Vietnam garment factory ramps up exports as US tariffs loom
The factory in northern Vietnam has 4000 workers. Now, they're racing to boost production capacity for US-bound goods.
Garment manufacturing is one of the country's key industries. It provides about three million jobs nationwide. The US is the largest destination, accounting for about 40 percent of Vietnam's total garment export value.
But the factory's president says he's concerned about how the business will handle the future. He thinks importers will have to raise their prices, and if that happens, US consumers will buy less.
He says, "We predict purchasing power in the US market this year will decline."
He adds that due to the situation he's considering shifting his exports to other markets, including Russia.
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